The Pakistan Stock Exchange (PSX) closed at a historic high on Wednesday, with the benchmark KSE-100 Index surging by 1,347.99 points, or 1.12%, to finish at 121,798.86 — its highest ever closing. The rally also marked the first time the index crossed the 121,000-point level during intraday trading, touching a peak of 121,882.47 points.
The day’s gains were underpinned by continued investor optimism following the Asian Development Bank’s (ADB) recent approval of an $800 million financial assistance package for Pakistan under its Resource Mobilisation Reform Program. The package comprises a $300 million policy-based loan and a $500 million program-based guarantee, aimed at supporting macroeconomic stability and fiscal reforms.
Bullish sentiment was also reinforced by anticipation surrounding the federal budget for FY2025-26 and positive developments in Pakistan’s ongoing negotiations with the International Monetary Fund (IMF). The upcoming budget is expected to be unveiled on June 10 in a National Assembly session convened by President Asif Ali Zardari, where Finance Minister Senator Muhammad Aurangzeb will present the fiscal plan.
Throughout Wednesday’s session, the KSE-100 Index maintained a strong upward trajectory, with an intraday low of 120,896.13 points and a total volume of 292.4 million shares traded. Key contributors to the rally included heavyweight stocks in oil and gas exploration, oil marketing, banking, fertiliser, and automobile sectors — including MARI, OGDC, PPL, POL, SNGPL, SSGC, HBL, and NBP.
This performance follows Tuesday’s record close at 120,450.87 points, marking the index’s first-ever finish above the 120,000 level. Market participants cited attractive valuations and improving macroeconomic signals as key factors fuelling the back-to-back rallies.
Analysts note that continued investor confidence will likely hinge on the content of the upcoming budget and further progress in Pakistan’s engagement with the IMF.
